Bulletin: Evoca SpA's Deleveraging Is Slightly Delayed By High Restructuring Costs And Supply Chain Issues In 2022 - S&P Global Ratings’ Credit Research

Bulletin: Evoca SpA's Deleveraging Is Slightly Delayed By High Restructuring Costs And Supply Chain Issues In 2022

Bulletin: Evoca SpA's Deleveraging Is Slightly Delayed By High Restructuring Costs And Supply Chain Issues In 2022 - S&P Global Ratings’ Credit Research
Bulletin: Evoca SpA's Deleveraging Is Slightly Delayed By High Restructuring Costs And Supply Chain Issues In 2022
Published Dec 13, 2022
3 pages (1592 words) — Published Dec 13, 2022
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Abstract:

This report does not constitute a rating action. MILAN (S&P Global Ratings) Dec. 13, 2022--S&P Global Ratings today said that Evoca SpA ?s deleveraging will be delayed by high restructuring costs to close the Saga coffee factory in Italy and supply chain disruptions. Following Evoca?s release of third-quarter 2022 results, we have updated our base-case scenario and now expect S&P Global Ratings-adjusted debt to EBITDA at 13.5x-14.5x in 2022 (9.0x-10.0x excluding €280 million-€290 million payment-in-kind notes and accrued interest). This is significantly down from about 23x in 2021 but slightly higher than our previous expectations of 11x-12x for 2022. We also anticipate leverage should decrease below 12x in 2023 on the back of EBITDA improvements due to a material reduction

  
Brief Excerpt:

... @spglobal.com Nicolas Baudouin Paris 33-14-420-6672 nicolas.baudouin @spglobal.com...

  
Report Type:

Bulletin

Ticker
617520Z@IM
Issuer
Evoca SpA
GICS
Industrial Machinery (20106020)
Sector
Global Issuers
Country
Italy
Region
Europe, Middle East, Africa
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Evoca SpA's Deleveraging Is Slightly Delayed By High Restructuring Costs And Supply Chain Issues In 2022" Dec 13, 2022. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Evoca-SpA-s-Deleveraging-Is-Slightly-Delayed-By-High-Restructuring-Costs-And-Supply-Chain-Issues-In-2022-3074675>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Evoca SpA's Deleveraging Is Slightly Delayed By High Restructuring Costs And Supply Chain Issues In 2022 Dec 13, 2022. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Evoca-SpA-s-Deleveraging-Is-Slightly-Delayed-By-High-Restructuring-Costs-And-Supply-Chain-Issues-In-2022-3074675>
  
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